Telefônica Brasil (NYSE:VIV) Given New $10.40 Price Target at Scotiabank

Telefônica Brasil (NYSE:VIV) had its target price lifted by Scotiabank from $9.20 to $10.40 in a research note published on Friday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the Wireless communications provider’s stock.

VIV has been the subject of several other research reports. Barclays lifted their price target on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an equal weight rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Telefônica Brasil from a strong-buy rating to a buy rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley raised shares of Telefônica Brasil from an equal weight rating to an overweight rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Telefônica Brasil currently has a consensus rating of Moderate Buy and an average target price of $10.98.

Telefônica Brasil Trading Down 1.1 %

VIV opened at $9.89 on Friday. The firm has a market cap of $16.45 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.00 and a beta of 0.79. Telefônica Brasil has a 12 month low of $8.02 and a 12 month high of $11.43. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $9.29 and a 200 day moving average of $9.23.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings data on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, research analysts forecast that Telefônica Brasil will post 0.61 EPS for the current year.

Telefônica Brasil Cuts Dividend

The company also recently declared a — dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th were issued a $0.0379 dividend. This represents a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 27th. Telefônica Brasil’s dividend payout ratio is currently 47.62%.

Hedge Funds Weigh In On Telefônica Brasil

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brandes Investment Partners LP increased its stake in shares of Telefônica Brasil by 14.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock valued at $18,261,000 after purchasing an additional 275,569 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Telefônica Brasil by 165.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock valued at $20,311,000 after acquiring an additional 1,157,304 shares during the period. Renaissance Technologies LLC grew its stake in Telefônica Brasil by 12.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,828,800 shares of the Wireless communications provider’s stock valued at $15,014,000 after acquiring an additional 197,500 shares during the period. Pinebridge Investments L.P. grew its stake in Telefônica Brasil by 82.7% in the 4th quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock valued at $17,517,000 after acquiring an additional 725,072 shares during the period. Finally, Vanguard Group Inc. grew its stake in Telefônica Brasil by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider’s stock valued at $12,311,000 after acquiring an additional 72,388 shares during the period. 5.16% of the stock is owned by hedge funds and other institutional investors.

Telefônica Brasil Company Profile

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.